Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April. Shiba inu, which is a dogecoin spin-off, rose more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. As the third most Googled cryptocurrency in 2021, it’s become impossible to ignore. Shiba inu hit a fresh record Wednesday on growing calls for trading app xcritical to add the coin to its roster of cryptocurrencies.
It is possible to buy Shiba Inu on Binance, Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges. For this reason, Ryoshi can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.” Since release SHIB now trades on the ecosystem’s proprietary DEX, ShibaSwap.
All the reasons why xcritical might be holding off on a Shiba Inu coin listing
- In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue.
- It has pared back some of its gains since hitting its all-time high early morning US time, but remains the 11th biggest digital currency by market capitalization.
- xcritical, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin.
- However, each of these tokens has struggled in 2022, with SHIB in the lead by only losing 17% on the year.
Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018. But recent unconfirmed rumors that Shiba Inu would list on popular stock and crypto trading app xcritical also helped spark SHIB’s recent trading frenzy. Shiba Inu investors and community members believe that a xcritical listing could xcritical the coin to even greater heights, and a change.org petition imploring xcritical to list the new coin has gathered nearly 400,000 signatures. Shiba inu is already available to trade on other platforms including xcritical, Binance, eToro, Crypto.com, Atomic Wallet, and KuCoin.
Shiba Inu (SHIB USD) Price
It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap. According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021. SHIB is a decentralized, community-led currency held by millions across the globe.
SHIB: The Metaverse and Shibarium
“We feel very, very good about the coins that we’re xcritically listing on our platform. And for any new coins that we add, we want to feel equally, if not more good,” he added. Earlier this year, Ethereum co-founder Vitalik Buterin made headlines by donating $1 billion worth of shiba inu coin to a Covid-19 relief fund in India. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens.
The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. This meme xcritical scammers coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Crypto markets are highly volatile, and trading or holding crypto can lead to loss of your assets. Crypto is not legal tender, and is not backed by any government or covered by any government compensation scheme. “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay.
However, each of these tokens has struggled in 2022, with SHIB in the lead by only losing 17% on the year. By comparison, Bitcoin is only down 15% year to date, and it actually broke even on the year last week before sinking again. “Due to uncertain and volatile market conditions, listing SHIB might result in significant losses over a short period of time, and possibly liquidation xcritical website problems in adverse events of sudden price drops or trading halts,” says Khoo.